Quarterly report [Sections 13 or 15(d)]

Note 17 - Earnings Per Share

v3.25.2
Note 17 - Earnings Per Share
6 Months Ended
May 31, 2025
Notes to Financial Statements  
Earnings Per Share [Text Block]

17.

EARNINGS PER SHARE

 

For the three and six months ended May 31, 2025 and 2024, the Company recorded net income and, as such, used diluted weighted-average common shares outstanding when calculating diluted income per share for the three and six months ended May 31, 2025 and 2024. Stock options and RSUs that could potentially dilute basic earnings per share (“EPS”) in the future are included in the computation of diluted income per share.

 

   

For the Three Months Ended

   

For the Six Months Ended

 
    May 31,     May 31,  
   

2025

   

2024

   

2025

   

2024

 

Net income

  $ 2,427     $ 2,077     $ 4,089     $ 2,094  
                                 

Weighted-average number of shares used in computing net income per share, basic

    22,668,546       22,728,500       22,628,270       22,383,769  

Net income per share - basic

  $ 0.11     $ 0.09     $ 0.18     $ 0.09  

Weighted-average number of shares used in computing net income per share, diluted

    23,951,297       23,731,076       24,021,948       22,942,530  

Net income per share - diluted

  $ 0.10     $ 0.09     $ 0.17     $ 0.09  

 

The following table reconciles the weighted-average common shares outstanding used in the calculation of basic EPS to the weighted-average common shares outstanding used in the calculation of diluted EPS for the three and six months ended May 31, 2025 and 2024:

 

   

For the Three Months Ended

   

For the Six Months Ended

 
    May 31,     May 31,  
   

2025

   

2024

   

2025

   

2024

 

Weighted-average common shares outstanding- basic

    22,668,546       22,728,500       22,628,270       22,383,769  

Assumed conversion of:

                               

Dilutive stock options

    588,289       315,374       659,644       117,374  

Dilutive RSUs

    694,462       687,202       734,034       441,387  

Weighted-average common share outstanding- diluted

    23,951,297       23,731,076       24,021,948       22,942,530  

 

The following potential common shares, presented based on amounts outstanding at each period end, were excluded from the calculation of diluted net income per share for the periods indicated because including them would have had an anti-dilutive effect:

 

   

For the Three Months Ended

   

For the Six Months Ended

 
    May 31,     May 31,  
   

2025

   

2024

   

2025

   

2024

 

Options

          36,000             452,166  

RSUs

    64,972             64,972       224,513  

Total

    64,972       36,000       64,972       676,679